Cairo – Mubasher: The first edition of the Egypt – International Cooperation Forum (Egypt – ICF), launched by the Ministry of International Cooperation and held under the patronage of President Abdel Fattah El-Sisi, convenes the global development community to discuss collective commitment to sustainable development as a catalyst for the post-pandemic economic recovery, towards building back better.
The two-day hybrid event witnessed the participation of Mostafa Madbouly, Egypt’s Prime Minister, and Ministers of International Cooperation, Manpower, Local Development, Supply, Education, Planning, Local Development, Health, Environment, Information and Communications Technology, Transportation, Social Solidarity, Agriculture, and Trade and Industry, according to a statement on Thursday.
The forum puts “Engaging for Impact” at the forefront as the cross-cutting theme, bringing together stakeholders to promote multilateralism and streamline the efforts towards achieving the 2030 sustainable development goals (SDGs), in addition to mobilising the international development interventions to address global challenges.
Followed by opening remarks from Rania El-Mashat, Minister of International Cooperation, and keynote speakers from Amina J. Mohamed, Deputy Secretary-General of the UN and Chair of the United Nations Sustainable Development Group; Jutta Urpilainen, Commissioner for International Partnerships, European Commission; and Jeffrey Schlagenhauf, Deputy Secretary-General of the OECD, among others, the forum began with a panel 1 titled “Multilateralism and International Cooperation Post-COVID-19”.
“The COVID-19 pandemic has been a wake-up call for all of us; emphasising that it is by working together that we can move forward and accelerate progress towards the global goals,” said El-Mashat.
“The only way to accelerate sustainable development and the SDGs – a common denominator for all countries today – is through multi-stakeholder engagement and cooperation. By doing so, we can create more inclusive societies, and greener and more resilient economies,” the minister added.
Børge Brende, President of the World Economic Forum (WEF), said Egypt has provided a “bright spot” for economic prosperity as one of several emerging markets to experience growth last year, according to the IMF. “The world needs more international and multilateral cooperation if we want to advance shared priorities of equality, resilience, and sustainability...we need to pivot and make international organisations relevant and resilient to face the challenges of a post-COVID world and keep pace with the UN’s SDGs.”
Panel 1, moderated by Manus Cranny, Anchor, Bloomberg LP, took place in the presence of Rania El-Mashat, Minister of International Cooperation, Alamine Ousmane Mey; Cameroon’s Minister of Economy, Planning and Regional Development; Keiko Miwa, Regional Director for Human Development at the World Bank; Solomon Quaynor, Vice President, African Development Bank; and Børge Brende, President, World Economic Forum as the keynote speaker.
Addressing “The Role of International Development Cooperation in Accelerating Progress Towards the 2030 Agenda” in panel 2, panellists discussed the crucial role of mobilising financial resources, as international cooperation and closing development finance gaps are a key aspect in achieving, and progressing towards the 2030 global agenda.
Jorge Moreira da Silva, Director of the Organisation for Economic Co-operation and Development (OECD) Development Co-operation Directorate, said, “It is critical to mobilise 1% of $379 trillion. But it cannot be done without a holistic approach; as it is important to emphasise the role of multilateralism” and that “we need to adopt standards and emphasize on the role of triangular cooperation and multilateralism.”
Eleni Giokos, Anchor and Correspondent, CNN, moderated Panel 2, which encompassed Khalida Bouzar, UN Assistant Secretary-General, UNDP Assistant Administrator and Director of the UNDP Regional Bureau for Arab States; Khaled Sherif, Vice President, African Development Bank; Thomas Östros, Vice President, European Investment Bank; Jorge Moreira da Silva, Director, OECD Development Cooperation Directorate (DCD); Hany Sonbol, CEO, International Islamic Trade Finance Cooperation (ITFC); Abdulhakim Elwaer, Assistant Director-General, FAO; and the keynote speaker Anita Bhatia, UN Assistant Secretary-General and Deputy Executive Director of UN Women.
Capitalising on the private sector’s contribution, the third panel of the first day titled: “Private Sector Engagement in Development Through International Cooperation”, explored the means to mobilise private sector engagement in development through international cooperation, which shall help accelerate progress towards the SDGs.
By the same token, Alain Pilloux, Vice President, Banking at the European Bank for Reconstruction and Development (EBRD), stated that: “More private sector involvement is key to growth. It all boils down to a stable political environment. While the governments need to take on their share of responsibilities, the private sector, and the multilateral development agencies need to complement this.”
During Panel 3, the Minister of Finance, Mohamed Maait, addressed the pressing need to include the private sector in the development process, stating that: “Mobilising the private sector is critical to bridging the $2.5 trillion SDG financing gap.” In pursuit of the effective implementation of the 2030 Sustainable Development Goals, the panel explored ways to effectuate development frameworks through foreign direct investment, social impact investment, blended finance and measurement of private finance mobilisation that would serve as key enablers for an inclusive transformation in private sector operations.
Panel 3 was moderated by Manus Cranny, Anchor, Bloomberg LP, and attended by Mohamed Maait, Egypt's Minister of Finance; Amadou Hott, Senegal's Minister of Economy, Planning and Cooperation; Estherine Lisinge-Fotabong, Head of Delegation representing the African Union Development Agency, NEPAD; Stephanie von Friedeburg, Senior Vice President, Operations, International Finance Corporation; Haje Schütte, Senior Counsellor and Head, OECD Development Co-operation Directorate; Tidjane Thiam, CEO, Freedom Acquisition Corp. 1; Alain Pilloux, Vice President, Banking, EBRD; and Jay Collins, Vice Chairman, Citi, as the keynoter.
Post-pandemic recovery includes, and is led by, a green recovery that integrates sustainability and inclusivity, through enhanced collaborative implementation of the climate change agenda. Centred around both economic and social dimensions, the pandemic has posed an opportunity for the world to rethink and strengthen its approach to climate action.
In Panel 4 “Climate Action in a Post COVID-19 Context: A Twofold Challenge”, Yasmine Fouad, Egypt’s Minister of Environment, addressed the Forum saying that the COVID-19 pandemic has placed increased strains on MEA countries, testing their social, economic, and environmental resilience. She said climate change is “not an environmental challenge. Climate change is a developmental challenge. It hits all development processes hard."
Panel 4 was convened in participation of the keynote Speaker Selwin Charles Hart, Special Adviser and Assistant Secretary-General for Climate Action; Yasmine Fouad, Egypt's Minister of Environment; Zainab Shamsuna Ahmed, Nigeria's Minister of Finance, Budget and National Planning; Ian Bremmer, President and Founder, Eurasia Group and GZERO Media; Ferid Belhaj, Vice President, Middle East and North Africa, World Bank Group; Harry Boyd-Carpenter, Managing Director for Green Economy and Climate Action, EBRD; and the panel’s moderator, Eleni Giokos, Anchor and Correspondent, CNN.
Ferid Belhaj, Vice President, Middle East and North Africa, World Bank Group, also said that “we need to move forward, we need to move fast, we need to move green, and we need to move now.” Climate change, however, is not only about safeguarding the planet for future generations but presents “huge opportunities” for job creation, he added.
The “Dialogue with the Private Sector: Towards Inclusive Partnerships” concluded the first day of the Egypt-ICF, where an interactive conversation took place in the presence of some of Egypt’s most prominent business leaders as well as representatives of global funding institutions. The speakers highlighted the potential in Egypt, that through private sector engagement, can be unlocked, leading to more inclusive progress.
The dialogue was moderated by Lubna Bouza, Editor in Chief, Sky News Arabia, and included; Ahmed Elsewedy, President and CEO, Elsewedy Electric; Hassan Allam, Group CEO, Hassan Allam Holding; Osama Anwar Beshay, CEO and Managing Director in Orascom Construction Ltd; Pakinam Kafafi, CEO, TAQA Arabia; Heike Harmgart, Managing Director, Southern and Eastern Mediterranean Region, EBRD; Solomon Quaynor, Vice President, African Development Bank; Walid Labadi, Country Manager of Egypt, Yemen and Libya, IFC; Sherif El-Gabaly, agricultural entrepreneur and Chairman of the African Affairs Committee in the Egyptian parliament; Jeffrey Schlagenhauf, Deputy Secretary-General of the Organisation for Economic Co-operation and Development (OECD).
Commending the recent milestones achieved in Egypt, Ahmed Elsewedy, President and CEO of Elsewedy Electric, remarked: “What has happened in Egypt in the last five to six years has never happened anywhere in the world,” adding that: “We used to have electricity that would shut down after three or four hours, but now the infrastructure is unbelievable; the roads, the bridges, we’ve seen 24 new universities built in the last three years, and there have been improvements in each sector.”
The second day of the forum opens the door to knowledge and expertise sharing via various workshops with an emphasis on the regional recovery strategy; “Africa Continental Free Trade Area (AfCFTA): Prospects and Challenges of Digital Trade for Private Sector”; “Mapping ODA to SDGs: A Tool for Effective Policy Making”; “Women in Business: Supporting Female Entrepreneurship in Egypt”; “ Food Security and Employment in the Digital Age in Africa”; “The Demographic Divide: Youth and Innovation for Transforming Africa”; and “Triangular Cooperation with Africa”.
The Egypt – ICF is also attended in high-level participation of government representatives from African Ministers and policymakers; presidents of international financial institutions; bilateral and multilateral development partners’ representatives; think tanks; the private sector; and international and regional research centres.
